Apartment living is popular in modern countries like Australia. The high prices of properties leave people with no choice but to rent homes. In fact, a recent study suggests that there may be more multi-bedroom apartments in Australia because of baby boomers.

1. Apartment living is popular in modern
countries like Australia. The high prices of
properties leave people with no choice but to
rent homes. In fact, a recent study suggests
that there may be more multi-bedroom
apartments in Australia because of baby
boomers.
Baby boomers as property
renters
A researcher from the Australian
Population and Migration Research
Centre at Adelaide University
revealed that baby boomers, which
make up about 25% of the
population, are choosing apartment
living over home ownership
nowadays. This spurs a demand for
apartment construction.
Why Are Baby Boomers
in to Multi-Bedroom
Apartments?

2. Contributing factors
The study showed that baby boomers prefer accommodations that provide flexibility
and space. They tend to go for homes that have good infrastructure and complete
amenities, all of which are evident in apartments. They are also on the lookout for
apartments that promote a luxurious lifestyle.
The researcher also noted that multi-bedroom apartments are popular for baby
boomers because of their cost-effective and value-added benefits. Most of them are
retiring in two or three-bedroom apartments that are low-maintenance and potentially
a long-term investment. They normally use one bedroom and lease the other to sustain
mortgage payments or simply for profit.
Mobility is another reason baby boomers prefer apartment living. They prefer living in
accommodations where they can easily move out should they go on long vacations or
permanently relocate elsewhere. Around half of the houses in South Australia’s Copper
Coast are holiday houses that belong to baby boomers.

3. Dealing with the challenges
While Australia has plenty of apartments, only a few have prices that meet the
financial capacities of baby boomers. In addition, the exodus of baby boomers in
certain areas may create problems in transportation, infrastructure and other
public sectors. These create potential affordable housing shortage and urban
planning problems in the future.
To address this, the government is speeding up the construction of apartments in
densely populated areas. They also plan to increase residential properties, improve
infrastructure and implement zoning changes in regional areas to better
accommodate baby boomers.
Property developers are also constructing apartments with affordable materials and
to meet the housing demand. Around 45% of each property development project
consists of smaller and compact two-bedroom apartments and one bathroom. This
makes the prices of apartments and other residential areas more competitive as a
result.
With more people becoming property renters, does this mean the end of the
Australian dream of home ownership? Not necessarily. Some baby boomers just
prefer low maintenance apartments to suit their lifestyle needs or for investment
purposes.

4. Resources:
http://www.pointcorp.com.au/brisbane-apartments/2-bedroom/
http://www.abc.net.au/news/2013-11-25/baby-boomers-compete-with-
gen-y-in-property-market/5114972
http://www.domain.com.au/news/demise-of-onebedroom-apartments-
as-buyers-drawn-to-flexibility-and-space-20150512-ggzdxy/